Coastal Contacts To Double Eyeglasses Manufacturing Capacity
VANCOUVER, British Columbia, Dec. 1, 2010 (GLOBE NEWSWIRE) -- Coastal Contacts Inc. (TSX:COA) (Stockholm:COA) ("Coastal Contacts"or "Coastal"), the leading online retailer of prescription eyeglasses and contact lenses announced today that it has placed orders for five additional state-of-the-art eyeglasses edging systems. The systems are industry leading in terms of production capacity and low rates of rejection as compared with comparable systems currently installed in eyeglasses labs around the world. The systems are to be installed early in 2011. "We believe Coastal is uniquely positioned at the front of the pack in the emerging online eyeglasses business, from the customer's perspective," stated Roger Hardy, Coastal's Founder and CEO. "Our experience in the past two months reinforces the belief that there will be a fundamental shift in the way consumers purchase eyeglasses, as we have been able to generate unprecedented online eyeglasses order volumes in our North American markets.
Clearly the value proposition is resonating with consumers. For example, during one product promotion this October, our Canadian site www.ClearlyContacts.ca generated 10,000 eyeglasses orders from new customers in a single twelve hour period. During a one week period this November our sites www.CoastalContacts.com and www.Lensway.com generated more than 15,000 eyeglasses orders from customers in the United States. We have proven the concept that it is possible to sell prescription eyeglasses on the Web and that customers are delighted with the value, quality and speed Coastal is delivering.
With our large and growing database of vision corrected customers, compelling value and proven customer acquisition techniques, we believe we can continue to similarly acquire customers at will and now require significantly expanded manufacturing capacity to serve this market.The equipment Coastal has ordered will be installed in both our North American and European facilities and when combined with the systems already installed will have a manufacturing capacity of up to 9,000 pairs of eyeglasses per day.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV